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Flybe rescued by Virgin in cut-price takeover deal

A takeover has been agreed of the troubled regional airline Flybe in a ?2.2m deal by a consortium led by Richard Branson's Virgin Atlantic.
The move, previously revealed by Sky News' Mark Kleinman, offers just 1p per share, significantly less than the company's closing price of 16.38p on Thursday.
Shares were 90% down on market opening, reflecting the massive markdown in the value of the company.
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